Tata group, UK govt talks fail on rescue package for JLR, steel plant

Tatas are struggling with both steel and car plants in the UK which are making huge losses

The Tata group has ended talks with the British government for financial rescue packages for Jaguar Land Rover and its UK-based steel plant. The financial metrics of both companies were impacted due to coronavirus pandemic and before that a sluggish economy due to Britain’s exit from the European Union.

The British government was of the opinion that the Tata group has deep pockets and will not require a rescue package at the cost of British tax payers, the FT reported on Saturday. The stiff conditions of the package which sought JLR to reduce production of diesel vehicles and increase production